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Wajeeh Khan

This Analyst Just Downgraded LYFT Stock. Here's Why.

Lyft Michael Morris Guggenheim United States

Lyft (LYFT) stock has been in a sharp downtrend this month, but senior Guggenheim analyst Michael Morris believes a swift near-term recovery is unlikely. In a research note this morning, Morris downgraded LYFT to “Neutral” and lowered his price target to $16, signaling a lack of meaningful upside from current levels.

At the time of writing, Lyft shares are already down about 23% versus the start of this year.

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